VinFast Auto Ltd. Ordinary Shares - VFS STOCK NEWS

VinFast has launched a charitable initiative in partnership with Food Banks Canada, running from November 18 through December 31, 2024. For every test drive of a VinFast EV, the company will donate 100 meals to people in need, equivalent to a $50 CAD donation to local food banks. With a target of 1,000 test drives nationwide, the initiative aims to provide up to 100,000 meals for Canadians in need.

The campaign encourages participants to bring friends, as each additional test drive will contribute another 100 meals. VinFast's HQ staff will also volunteer during the holiday season to help transport donations and assist local food banks. The initiative will be promoted through a multi-channel campaign across social media platforms, digital ads, and in-store promotions in both English and French.

VinFast Auto has started delivering its VF 9 all-electric SUV to U.S. customers, with prices starting at $69,800 for the Eco version and $73,800 for the Plus version. The 7-passenger, 3-row vehicle offers an EPA-estimated range of 330 miles (Eco) and 291 miles (Plus). A -time promotion offers the Plus version at $529/month lease with $2,000 down payment for the first 100 vehicles. The VF 9 features advanced driver assistance, 11 airbags, and a 15.6-inch touchscreen. It comes with a 10-year/125,000-mile warranty and is supported by 15 stores and 4 service centers in California, plus 36 dealerships across 15 states.

VinFast Auto has launched deliveries of its VF 9 all-electric SUV in Canada, starting at $77,321 for the Eco trim and $81,321 for the Plus trim. The VF 9 is a 7-passenger, 3-row dual motor all-wheel drive vehicle featuring dimensions of 201.5 inches length, 78.9 inches width, and 66.7 inches height. The SUV offers an EPA-estimated range of 518 kilometers for the Eco model and 462 kilometers for the Plus model. Notable features include 11 airbags, a 15.6-inch touchscreen, and an industry-leading 10-year/200,000-kilometer warranty. VinFast's Canadian network includes 10 showrooms and 57 certified collision centers.

VinFast and the Durango Drivers' Union in Mexico signed an MOU for potential purchase of 3,000 VF 5 electric cars and 300 electric buses for public transport in Durango City. The agreement includes collaboration with V-Green to develop charging infrastructure. The initiative aims to replace current gasoline-powered fleet, reduce CO2 emissions, and create new jobs through charging system operations. The partnership highlights VinFast's expanding global presence, following its achievement as the top-selling EV brand in Vietnam and its expansion into multiple international markets including the US, Canada, and European countries.

VinFast Auto has officially launched in the Middle East market with its first dealership opening in Dubai, UAE, in partnership with Al Tayer Motors. The 1,000-square-meter store showcases the VF 6, VF 7, VF 8, and VF 9 models. The company plans to expand to Saudi Arabia, Qatar, Kuwait, and Bahrain later this year. The VF 8 model will be priced from $47,500 for Eco trim and $51,500 for Plus trim. VinFast has signed partnerships with Al Tayer Motors (UAE), Al Mana Holdings (Qatar), and Bahwan Automobiles & Trading (Oman), and recently partnered with Charge&Go for charging infrastructure in UAE.

VinFast Auto (Nasdaq: VFS) reported its Q2 2024 financial results, showing significant growth in EV deliveries and revenue. The company delivered 13,172 EVs in Q2, up 44% QoQ and 43% YoY, bringing the H1 2024 total to 22,348 vehicles, a 101% YoY increase. Q2 revenue reached $357 million, up 33% QoQ and 9% YoY.

VinFast's growth was primarily driven by increasing EV adoption in Vietnam, with a 108% YoY increase in B2C deliveries. The company expanded its global footprint, operating in eight U.S. states and entering the Indonesian market. VinFast reaffirmed its target to deliver approximately 80,000 units in 2024, with Vietnam expected to play a key role in driving revenue for the remainder of the year.

VinFast highlights four scenic EV road trips in Canada, showcasing the country's growing EV adoption and charging infrastructure. The routes include:

1. British Columbia's Sea-to-Sky Highway: A 120 km journey from Vancouver to Whistler.

2. Alberta's Icefields Parkway: Winding through Banff and Jasper National Parks.

3. Quebec's Charlevoix Route: A UNESCO Biosphere Reserve with over 50 charging stations.

4. Nova Scotia's Cabot Trail: A 300 km loop around Cape Breton Island.

The press release emphasizes the VinFast VF 8's suitability for these trips, highlighting its up to 425 km range and features like the VinFast Trip Planner app. It also notes Canada's 57% increase in EV registrations in early 2024, indicating growing interest in sustainable travel.

VinFast Canada announced its participation in the 2024 Everything Electric EV Show in Vancouver, September 6-8. The company will showcase four electric vehicle models: VF 6, VF 7, VF 8, and VF 9, at Booth E100 in the Vancouver Convention Centre. Visitors can explore these models and sign up for test drives of the VF 8 and VF 9.

The event, organized by Fully Charged SHOW, focuses on promoting EVs, renewable energy, and sustainable tech. VinFast's presence underscores its commitment to the electric mobility sector and bringing EV ecosystems to global consumers. The company's Deputy CEO highlighted the strong interest in EVs in British Columbia and the success of VinFast's three showrooms in the Lower Mainland.

VinFast's models feature modern designs by Torino Design and Pininfarina, catering to various customer segments. In Canada, the VF 8 and VF 9 are priced at $56,026 CAD and $77,321 CAD respectively, including freight and PDI, with a 10-year or 200,000 km warranty.

VinFast Canada has announced its return as the Presenting Sponsor and Official Electric Vehicle of the Canadian National Exhibition (CNE) 2024, taking place from August 16 to September 2nd. The company will showcase and offer test drives for its VF 8 and VF 9 electric SUVs. VinFast is holding a 'Drive to Win' contest with a two-year lease of a VF 8 Eco Edition as the prize, valued at $35,000 CAD. The contest runs from August 16 to September 16th, 2024, for residents of Ontario, British Columbia, and Quebec. VinFast's Deputy CEO of Sales and Marketing, Robert Muller, noted that demand for the VF 8 in Canada has exceeded expectations. The VF 8 and VF 9 are priced at $56,020 CAD and $77,310 CAD respectively, with a 10-year or 200,000-kilometer warranty.